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Macarthur OKs $5.1B Peabody, Arcelor Bid

The board members of Macarthur Coal have accepted the takeover bid made by Peabody Energy and ArcelorMittal.

The board members of Macarthur Coal have accepted the takeover bid made by Peabody Energy and ArcelorMittal. The partners will acquire all outstanding shares of Macarthur for approximately $5.1 billion.

As a part of the agreement, Arcelor and Peabody will pay $17.03 per share. On the transaction, JPMorgan is advising Macarthur, and UBS and Bank of America Merrill Lynch are advisers to Peabody, adds Reuters. RBC Capital Markets is advising Arcelor.

Click here for the release from PR Newswire.

Click here for additional coverage from Reuters.

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